For limited scope firms, for which a very limited SMCR regime applies, the FCA has proposed an amendment to clarify that it expects all directors to be subject to Senior Manager Conduct Rule 4 (the requirement to disclose appropriately any information of which the FCA or PRA would reasonably expect notice).
The existing rules applied to non-approved non-executive directors, and the FCA is proposing amendments to make it clear the rule will also apply to non-approved executive directors.
SMCR: Client dealing function CF30
SMCR: Head of Legal
SMCR: Systems & Controls
SMCR: Intermediary revenue criteria for the enhanced tier
We hope this note has helped you stay up to date with developments in this area. If you would like to discuss anything addressed here, or find out how we could assist you, please contact your usual Compliance Doctor contact or anyone shown below.
For assistance in your SMCR preparations, please contact us.
Tel: 0207 097 1434
Lee Werrell Chartered FCSI FISM.
Head of Marketing.